Potato Chips Market Size:
The global potato chips market valued USD 31.87 billion in the year 2020.The market is anticipated to grow at USD 36.59 billion by 2026 and grow at a CAGR of 2.8% during forecast period of 2021-2026.
Potato Chips Market Overview:
Potato chips are the most famous snacks food preferred by any across the globe. Potato chips are processed as well as stored in fine way so that chips are inert towards any chemical and enzymatic activities and even moisture. Color, texture and taste of the potato chips stay same for long duration. They are always sold in air tight plastic bags for the purpose of increasing the durability of the products. Potato slices are seasoned until they became crispy. They are everyone’s favorite snack. They are sold as plain or salted. Potato chips get yellowish brown color because potatoes react with amino acids while deep-frying them.
Drivers and Restraints
Two most significant driving factors for the growth of potato chips market are raising earnings, increasing young population and urbanization. The potato chips market developed with time and now represents a huge amount of dollar market. This market research report provides complete analysis beneficial for those who are planning to foray into the industry. Even if, the potato chips are consumed all across the world, their use and penetration levels differ hugely around the regions. High demand and availability of the chips in numerous flavors are the elements evaluated to impel the global market growth during the forecast period. Profits from global potato chips market are evaluated to grow at a stable rate during the forecast years from 2020-2027. Potato chips are the most convenient food option.
Another factor that boosts the potato chips market growth is the launch of nutritious options like low-fat and low-sodium potato chips. They are the great alternative for traditional potato chips. The major factor that is anticipated to restrain the market growth is numerous alternatives to potato chips are available in the market. There is a huge market growth in developing countries in upcoming years. Potato chips are the most suitable food option as it can be served as a quick snack. The easily availability of raw materials utilized in the potato chips manufacturing process are oil, potato and salt. Raw materials required for preparing potato chips is widely available everywhere. Therefore trustworthy supply of raw materials is ensured hence continuous supply as well as effective production planning is provided to the potato chips market.
The market is segmented based on the basis of product type:
The market is segmented based on the basis of distribution channel
- Specialty Food Stores
- Online Stores
The Market is segmented based on the basis of Regions
- United States
- United Kingdom
- North America
- Middle East
The U.S served as the huge market for potato chips as obtaining the huge market revenue share because of increasing demand for this convenient snack and snaking preference of people around the region. The U.S is followed by U. K, China, Brazil, India, China and Argentina.
The activities involved in value chain are also discussed such as distribution, procurement and manufacturing. Moreover, the report analysis evaluates the market based on five forces model of Porter to assess the competition in the market by thoroughly making study of dangers from new competitors and bargaining potent of suppliers as well as purchasers. This market report also helps a newbie in the market by providing thorough insight to set up efficient potato-chips manufacturing plant.
It further provided in-depth analysis of key players of the market covering their capacity, competitive landscape and recent developments such as investments, mergers, plant turnarounds, expansions of capacity and acquisitions. A few of the prominent key players operating in potato chips market include:
- Kettle Foods, Inc.
- Burts Potato Chips ltd
- Utz Quality Foods
- PepsiCo, Inc
- Calbee, Inc.